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Jacko's Forex House of Pleasure and Pain

  • #8,161
  • Edited 8:13am Jun 15, 2009 8:01am | Edited 8:13am
Quoting RickyRudy
JP, looks like we're in the same boat waiting for Geithner to come bail us out. Hopefully he'll come to the rescue so we can get in on this sweet action at a good price. Let's hold hands and sing Kumbaya while we wait...LOL!
Hey Ricky,

Yeah, I'm on the sidelines waiting for Geithner's speech. If Jacko thinks there'll be a pullback... that's all I need to calmly sit on my hands while waiting for my entry...

The let's-get-all-spiritual-while-Kumbaya-singing is what I like the most... ROTFL!

BTW, it's great to see you around Wayne. Canīt believe you have some spare time after your constant blog update.

Edit: Market is now sitting at the 50% fib at .3884 (from today's low @ .3834). Looks like Geithner's effect mentioned by Jacko may be all we need to get our pullback
Edit #2: So tempting to go long... but wouldn't like to trade this yo-yo style (up-down-up...)
  • #8,162
  • Jun 15, 2009 8:03am Jun 15, 2009 8:03am
Quoting RickyRudy
JP, looks like we're in the same boat waiting for Geithner to come bail us out. Hopefully he'll come to the rescue so we can get in on this sweet action at a good price. Let's hold hands and sing Kumbaya while we wait...LOL!
Hi RR

I am not a short term trader / scalper but I suggest that this market will go up until about 10.15am NY time today (it is now at 1.3882)

.
Jacko
  • #8,163
  • Jun 15, 2009 8:04am Jun 15, 2009 8:04am
Quoting jacko
Hi RR

I am not a short term trader / scalper but I suggest that this market will go up until about 10.15am NY time today (it is now at 1.3882)

.
Jacko
I sent you an e-mail to your private blog regarding Geithner. Looking forward to your response.
  • #8,164
  • Jun 15, 2009 8:05am Jun 15, 2009 8:05am
Quoting jacko
Hi RR

I am not a short term trader / scalper but I suggest that this market will go up until about 10.15am NY time today (it is now at 1.3882)

.
Jacko
The market looks to be getting ready for the "Geithner effect"...LOL
  • #8,165
  • Jun 15, 2009 8:07am Jun 15, 2009 8:07am
Quoting RickyRudy
I sent you an e-mail to your private blog regarding Geithner. Looking forward to your response.
Hi RR

I just saw it...I am answering the emails now

.
Jacko
  • #8,166
  • Jun 15, 2009 8:08am Jun 15, 2009 8:08am
Quoting jacko
Hi Lovejoy

Good trading..... But watch the 1.3880 It is the 50% fib from 1.3422 to 1.4338

.
Jacko
Thanks Jacko, I forgot about that, noted it and watched it fall to 1.3850 and exited trade. Like you, looking to see on a bounce later...Think 1.3800 is a key area, round number, confluence of two fibs (I know it is not the 50% ones ou use) and past resistance. Just a matter of waiting for the expected bounce.
  • #8,167
  • Jun 15, 2009 8:15am Jun 15, 2009 8:15am
Quoting tonn1946
I can see a Head and Shoulders pattern forming on the 4H EURUSD chart. The neckline being around 1.3814 right now... This area might show some resistance

http://www.forexfactory.com/attachme...1&d=1245065220

Next level to watch is the 1.3600 50% retracement.
As I understand it ?
I am not overly clued up on chart patterns but noticed this too (missed the smaller H&S though), the right shoulder to me looks skewed compared to the left, but as I said I'm far from an expert in this area...If it does play out then it will form the neckline around 1.3800 which is a key area in my opinion as Ive stated previously. If it breaks this then I think we will have a strong fast move south and I'll be aboard that train!
  • #8,168
  • Jun 15, 2009 8:20am Jun 15, 2009 8:20am
Quoting tonn1946
I can see a Head and Shoulders pattern forming on the 4H EURUSD chart. The neckline being around 1.3814 right now... This area might show some resistance

http://www.forexfactory.com/attachme...1&d=1245065220

Next level to watch is the 1.3600 50% retracement.
As I understand it ?
I am not overly clued up on chart patterns but noticed this too (missed the smaller H&S though), the right shoulder to me looks skewed compared to the left, but as I said I'm far from an expert in this area...If it does play out then it will form the neckline around 1.3800 which is a key area in my opinion as Ive stated previously. If it breaks this then I think we will have a strong fast move south and I'll be aboard that train!
  • #8,169
  • Jun 15, 2009 8:35am Jun 15, 2009 8:35am
Quoting jacko
Hi RR

I am not a short term trader / scalper but I suggest that this market will go up until about 10.15am NY time today (it is now at 1.3882)

.
Jacko
Market has dropped to 1.3862....Has Geithner decided to be a no-show????...LOL
  • #8,170
  • Jun 15, 2009 8:54am Jun 15, 2009 8:54am
Quoting jacko
Market has dropped to 1.3862....Has Geithner decided to be a no-show????...LOL
LOL. I hope not. The show starts in @ 5 minutes.
  • #8,171
  • Jun 15, 2009 9:33am Jun 15, 2009 9:33am
I sold at 1.3834. Geithner doesn't seeme to be holding up his end of the bargain.
  • #8,172
  • Jun 15, 2009 9:33am Jun 15, 2009 9:33am
Quoting jacko
Market has dropped to 1.3862....Has Geithner decided to be a no-show????...LOL
Looks like the "Geithner effect" has now been factored in by the market....

.
Jacko
  • #8,173
  • Jun 15, 2009 9:41am Jun 15, 2009 9:41am
Quoting fxtrader29
I will be taking another position tonight, Australia time.

I an in long at 3820
  • #8,174
  • Jun 15, 2009 9:43am Jun 15, 2009 9:43am
Quoting fxtrader29
I an in long at 3820
Am I reading this wrong? What's your reason?
  • #8,175
  • Jun 15, 2009 9:47am Jun 15, 2009 9:47am
Quoting fxtrader29
I an in long at 3820
It is quarter to one in the morning here, I am off to bed
  • #8,176
  • Jun 15, 2009 9:48am Jun 15, 2009 9:48am
Quoting RickyRudy
Am I reading this wrong? What's your reason?
Read his blog
  • #8,177
  • Jun 15, 2009 9:51am Jun 15, 2009 9:51am
Quoting fxtrader29
Read his blog
Ouch. Oh well, I guess I have to let it play out now.
  • #8,178
  • Jun 15, 2009 10:08am Jun 15, 2009 10:08am
Quoting RickyRudy
Ouch. Oh well, I guess I have to let it play out now.
Market went as low as 1.3779. I moved my SL to breakeven just in case this thing reverses. It's pretty much a free trade for me now. Whoopie, out of the woods with my pants on.
  • #8,179
  • Jun 15, 2009 10:12am Jun 15, 2009 10:12am
Quoting RickyRudy
I sold at 1.3834. Geithner doesn't seeme to be holding up his end of the bargain.
I'm with you on this one, Rick. Got in at .3845 at the last pullback. As I consider this a very risky trade because of the really low entry point, I've just placed my S/L at B/E (currently 60 pips in the green). I'm planning to buy back my lots at 3745 if we get there.

Cheers,
  • #8,180
  • Jun 15, 2009 10:20am Jun 15, 2009 10:20am
Quoting fxtrader29
I an in long at 3820
sorry , i'm a newbie in jacko style
and glad to learn much thing from u all guys

and i want to learn more about A-H strategy

let say entry on 3900 and put Stop Loss 3800 and also put a buy limit at 3800 ??

sry for my english , coz is not my default language
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